Companies /Technology
Arista Networks Inc
NYSE: ANET Computer Hardware
$176.98
▼ $8.60 (−4.63%) today
Markets closed · 6:45pm ET

Arista Networks (ANET) Q1 2026 Earnings

Reported May 5, 2026, 4:06pm ET · SEC source
$0.87
Beat +7.73%
EPS · est. $0.81
$2.7B
Beat +3.45%
Revenue · est. $2.6B
+5.6%
Beating market
ANET vs S&P since report
6 quarters
Consecutive EPS beats

How Did ANET Stock React to Q1 2026 Earnings?

% change · around the report
−7%0+7%+14%May 5May 6report 4:06pm ETearnings+1.3%−5.1%
−7%0+7%+14%May 5May 6earnings+1.3%−5.1%
ANET −5.1%S&P 500 +1.3%
−7%0+7%+14%May 5May 6report 4:06pm ETearnings+1.9%−5.1%
−7%0+7%+14%May 5May 6earnings+1.9%−5.1%
ANET −5.1%NASDAQ +1.9%
−8%0+8%+16%May 4May 13report 4:06pm ETearnings+2.5%−2.0%
−8%0+8%+16%May 4May 13earnings+2.5%−2.0%
ANET −2.0%S&P 500 +2.5%
−8%0+8%+16%May 4May 13report 4:06pm ETearnings+4.8%−2.0%
−8%0+8%+16%May 4May 13earnings+4.8%−2.0%
ANET −2.0%NASDAQ +4.8%
−13.61%
Day of report
−3.61%
Next session
−4.33%
One week
+6.35%
30 days

S&P 500 over the same 30 days: +0.73%.

Did ANET Beat Earnings? Q1 2026 Results

Yes. Arista Networks reported Q1 2026 earnings of $0.87 a share on May 5, 2026, beating the $0.81 consensus estimate by 7.7%. Revenue was $2.7B against a $2.6B estimate.

Arista Networks delivered another strong quarter in Q1 2026, <a href="https://247wallst.com/investing/2026/05/05/live-arista-networks-is-reporting-q1-earnings-can-anet-continue-its-32-ytd-rally/">extending its earnings momentum</a> with non-GAAP diluted EPS of $0.87, beating the $0.81 consensus estimate by 7.73% and marking the company's fourth consecutive quarter of beating EPS expectations. Revenue came in at $2.71 billion, topping estimates by 3.45% and representing 35.1% growth from a year ago, with product revenue climbing to $2.31 billion from $1.69 billion as demand for AI networking infrastructure remained robust. Operating cash flow more than doubled to $1.69 billion, bolstered by a $826.20 million swing in deferred revenue, reflecting the scale of customer commitments flowing through the business. Gross margins compressed modestly to 62.4% on a non-GAAP basis from 64.1% a year ago, a shift analysts have tied to the mix toward higher-cost AI networking buildouts, though non-GAAP operating margin held steady at 47.8%. Management guided Q2 2026 revenue to approximately $2.80 billion with non-GAAP EPS of roughly $0.88, signaling continued confidence despite a dynamic macro and supply chain environment.

Key Takeaways
  • 35.1% year-over-year revenue growth driven by strong product revenue increase
  • Robust cash flow from operations of $1.69 billion
  • Disciplined execution maintaining 47.8% non-GAAP operating margin
  • Industry-leading net promoter score of 89 with 94% strongly positive customers

“Arista is off to a strong start in Q1 2026, with both our results and our industry-leading net promoter score.”

Arista Networks CEO, on the earnings call

What Was Arista Networks's Outlook in Q1 2026?

For Q2 2026, Arista expects revenue of approximately $2.8 billion, non-GAAP operating margin of 46-47%, and non-GAAP diluted net income per share of approximately $0.88. Management noted that the macro and supply chain environments remain dynamic.

ANET YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$800.0M$1.6B$2.4B$2.0B$2.7BRevenue$1.3B$1.7BGross Profit$858.8M$1.2BOperating Income$813.8M$1.0BNet Income
$0$800.0M$1.6B$2.4BRevenueGross ProfitOperating IncomeNet Income
ANET income statement, Q1 2026 versus Q1 2025
Metric Q1 2026 Q1 2025 Year over year
Revenue $2.7B $2.0B +35.1%
Gross Profit $1.7B $1.3B +31.4%
Operating Income $1.2B $858.8M +34.8%
Net Income $1.0B $813.8M +25.7%

ANET Revenue by Segment

Product$2.3B+36.6%
Service$397.7M+27.3%

Figures from SEC filings and company reports. Not investment advice.